MSO Provides Compensation Details of Susan Lyne

Nov 16, 2004  •  Post A Comment

Martha Stewart Living Omnimedia CEO Susan Lyne will be paid a base salary of $900,000 and be eligible for an annual bonus equal to as much as 150 percent of her base salary, according to filing submitted Tuesday to the Securities and Exchange Commission.

The filing describes a three-year employment contract that started Nov. 11 and ends Dec. 31, 2007, and pays Ms. Lyne $447,120 to compensate her for the forfeiture of equity compensation awards due to her from The Walt Disney Co., her previous employer.

MSO hired Ms. Lyne last week to replace Sharon Patrick, who stepped down after 10 years at the company. Ms. Lyne’s hiring comes four months after joining the MSO board. Ms. Lyne was previously president of ABC Entertainment but was pushed out in April on the eve of ABC’s Upfront presentation.

Ms. Lyne will also receive 200,000 shares of restricted stock that will vest 50,000 shares per year for the first three years, with the remaining shares scheduled to vest in the seventh year of Ms. Lyne’s employment with the company.